Solar Energy Initiatives, Inc.: Second $4 Million Solar Project in Southeastern U.S.
Solar Energy Initiatives, Inc. Announces Second $4 Million Solar Project in Southeastern U.S.
Press Release Source: Solar Energy Initiatives, Inc. On Thursday January 14, 2010, 9:08 am EST
PONTE VEDRA BEACH, Fla.----Solar Energy Initiatives, Inc., executing on a grass roots campaign, “RENEW THE NATION”, to help redeploy a portion of the U.S. work force and focus on reducing the world’s dependence on fossil fuels by selling solar thermal and photovoltaic (PV) technologies, today announced the signing of a second Contract to initiate a $4 million turn-key solar project and supply management services to a public school in the southeastern U.S. Installation of this approximately 1 megawatt project is expected to begin immediately with completion scheduled for early spring 2010.
Solar Energy Initiatives will serve as the developer of the project and will provide all of the solar equipment and balance of system to the commercial site. In addition to product sales and services, the Company will also receive revenue from the management of the sale of the newly generated solar electricity to the school system’s utility, over a 20-year contract period. SNRY plans to partner with a major funding source, as well as a recognized solar installer, to launch the solar system at no “out of pocket” expense to the school district.
“The attainment of this 1 megawatt project is a testament to Solar Energy Initiatives’ commitment and success to becoming a market leader within the commercial solar energy market,” stated Mr. David Fann, Chief Executive Officer of Solar Energy Initiatives. “Securing a second, sizeable contract in as many weeks gives management a very positive sense of the direction the Company is headed. We are finalizing contracts, implementing funding, and initiating system installation at an unprecedented rate. SNRY’s cost saving energy solutions coupled with our ability to secure financing and complete projects in a timely manner has lead to increased interest from municipal and commercial customers. Solar Energy Initiatives plans to continue to leverage its proven business model to secure new contracts and expand its geographic footprint with a focus of improving shareholder value.”
About Solar Energy Initiatives, Inc.
Solar Energy Initiatives, Inc. (www.SolarEnergy.com) is executing its “RENEW THE NATION” campaign, intended to promote job growth nationwide via an aggressive grass roots effort. The main focus of RENEW THE NATION is working with companies in the construction industry and related trades affected by the economic downturn to re-train and re-deploy their workforce into the solar industry as dealers and technicians, allowing this important national asset to meet the needs of the Solar Energy industry, the fastest growing industry in the world. Solar Energy Initiatives is executing on a multi-pronged approach to achieve its plan. This includes: continuing development of one of the fastest growing dealer networks in the U.S. that sells and installs solar solutions to homeowners and commercial customers; solar education and technical training to the private and public sectors and placing solar systems on large commercial buildings and selling the energy output to the owner/occupant(s) through Solar Power Purchase Agreements (PPAs).
The Company’s dealer network of solar energy installers has access to Canadian Solar (NASDAQ: CSIQ - News), BP Solar (NYSE:BP - News), GE Solar (NYSE:GE - News) and Suntech (NYSE:STP - News) equipment via its distribution agreements. While Solar Energy Initiatives is not a solar franchise, and the Company does not compete directly with industry giants such as First Solar (NASDAQ:FSLR - News), Kyocera (NYSE:KYO - News), or Sanyo (OTC:SANYY - News), or as a system integrator, it provides exciting and practical solutions to businesses and individuals worldwide that understand the value of solar power.
Solar Energy Initiatives, Inc.
Gregory Bakeman, President, 904-644-6090
Alliance Advisors, LLC
Chris Camarra or Bryan Kobel, 212-398-3487